內線交易構成要件之研析—以獲悉說之爭議為中心

摘要　　我國內線交易罪從立法以來對於法條文字「獲悉」要件的認定，不論是在學界還是實務界一直存在著不同的聲音，有認為應該定義為主觀構成要件中的一般故意，也有認為定義為主觀構成要件中的特定意圖才最為合適，以致於我國檢察官在追訴上或是法院在審理上因為沒有共識，所以導致沒有社會大眾可以依從、遵守的標準。　　但本文認為這樣的分法有很大值得被討論的空間，因此撰寫本文來整理我國現今對於「獲悉」要件的所有想法與討論，包含實務的判決與學界的討論等，以探究證券交易法之內線交易行為法條文字中「獲悉」要件的定位，是否需要重新定位，嘗試藉由我國現有的刑事法規範，及美國法上內線交易行為相關之法規範與理論，跳脫既有的框架解決主觀構成要件的爭議問題，畢竟依照我國刑法第11條的規定，含有刑事處罰的特別刑法，除該條文有特別規定外，亦適用刑法總則之規定。關鍵字：內線交易罪之構成要件、反詐欺條款、獲悉說、利用說、修正獲悉說、中性業務行為，豁免條款、業務上正當行為

關鍵字

內線交易罪構成要件；反詐欺條款；獲悉說；利用說；修正獲悉說；中性業務行為；豁免條款；業務上正當行為

並列摘要

Abstract Since the enactment of the law on insider trading, there have been different views on the definition of the "knowledge" element of the law, both in the academic and practical circles. Some think it should be defined as general intent in the subjective element, while others think it is most appropriate to define it as specific intent in the subjective element. This is why there is no standard for the public to follow and comply with. However, this article believes that such a division has a lot of room for discussion. Therefore, this article is written to compile all the current thoughts and discussions on the "knowledge" element in our country, including practical decisions and academic discussions, in order to explore the positioning of the "knowledge" element in the text of the insider trading conduct law of the Securities and Exchange Act and whether it needs to be repositioned. After all, according to Article 11 of our Criminal Law, the provisions of the General Provisions of the Criminal Law are applicable to special criminal laws that contain criminal penalties, except for the special provisions of that Article. Keywords：the elements analysis of insider trading, anti-fraud provisions, in possession of, intentional, Rule10b5-1, neutral business activity